Ultragenyx Pharmaceutical (RARE) Swoons on Failure to Meet Endpoint

Ultragenyx Pharmaceutical Inc (NASDAQ: RARE) fell 7.2% to $72.70 after the company reported topline data from Phase 2 UXOO7 study. The trial did not meet primary endpoint. PiperJaffray downgraded Ultragenyx Pharmaceutical from Overweight to Neutral. Share volume totaled 996,000, double and then some its all-day average